Press briefing of Cabinet Decision taken on 2017-06-20

Enhancing and Upgrading of the Institute of Engineering Technology, Katunayake

- The Cabinet on 14th March 2017 has granted approval for the award of the contract of the project for Enhancing and Upgrading of the Institute of Engineering Technology, Katunayake. The Government of Austria has agreed to provide the sum of 9.5 Euro million required for the implementation of the project as an interest free soft loan through a Bank of Austria. Accordingly, the proposal made by Hon. Niroshan Perera, the Acting Minister of National Policies and Economic Affairs, to conduct negotiations with the Raiffeisen International Bank of Austria and subsequently, to enter into loan agreements, was approved by the Cabinet.